Buffet’s Berkshire cut its Apple stake by 13% over the weekend

With a current market value of $135.4 billion, Berkshire's Apple stake represents ownership of around 790 million shares. This change represents a 13% reduction in the firm's ownership in the massive IT company.

Nevertheless, Apple continues to be Berkshire's top holding.

Despite declining iPhone sales, Apple revealed last week that it has authorised a record $110 billion share buyback. This news sent Apple shares soaring.

With the exception of exchange-traded fund providers, Berkshire Hathaway continues to own the largest stake in Apple as of the end of the first quarter.

The business owned by Warren Buffett announced operational profits of $11.22 billion earlier today, a 32% increase over $8.48 billion in the first quarter of 2023.

(Sources: investing.com, reuters.com)